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Serbia to offer incentives for foreign filmmakers

Xinhua, February 10, 2015 Adjust font size:

The Serbian government announced Monday that it plans to introduce incentives to foreign filmmakers to come and shoot their movies in Serbia in order to bring more income and new work opportunities.

This was announced by Vice President Zorana Mihajlovic and Minister of Economy Zeljko Sertic after a meeting with renowned U. S. producer Steve Shapiro and U.S. ambassador to Serbia Michael Kirby on Monday.

If the new decree is adopted, said Mihajlovic at a press conference, Serbia can, in the next three years, hope for an income of some 50 million euros. He mentioned that neighboring Hungary earned some 120 million euros from such deal last year.

"Serbia has several fantastic studios, and it can fulfill demands that are being placed. Serbia also has domestic production companies that can participate also in this business," said the vice president, estimating that one euro of incentive would generate around five euros of income.

Sertic explained that the regulation is already drafted and will be finished and adopted in a few weeks. She revealed that it will include a VAT refund for foreign companies, as well as for domestic ones.

Sertic did not say how much money Serbia is ready to invest in filmmaking but did estimate that in the first two years Serbia could increase foreign investment in this area by three to five times in addition to promoting the country as a tourist destination.

Shapiro, who has recently finished a movie in Serbia's capital Belgrade, confirmed that these measures might make Serbia more attractive for foreign filmmakers that have until now often produced their movies in neighboring Hungary, Croatia, Romania and Bulgaria. Endite